Archive - Oct 6, 2010 - Blog entry

It was a strange day in the market as gold reached a record $1,350 an ounce (making it the 4th most expensive material per ounce in world after unicorn tears, Brooklyn Decker's vagina, and of course the rarest of materials, John Edwards' credibility) which continued the biggest rise in hard assets since the Houston 500.

If you bought every Friday close this year and sold the Monday close, your return so far would be 14.20%, versus a 0.42% return on the S&P 500. Apparently, the market is paying a huge premium for traders willing to run the weekend risk. The reasons why do not bode well for the market.

Florida's public pension has invested about $2 billion in two dozen private funds since December. Rather than approach the pension's staff directly, half the funds used middlemen to get in the door. They paid these well-connected placement agents millions of dollars for making introductions and setting up meetings. Average finder's fee: about $1.5 million.

We enjoyed being criminals, and enjoyed the money. We had no empathy for the people we hurt. We didn’t even need the money, just wanted more.

Congress members Grayson, Conyers and Kilpatrick stand up ...

The Fed is very worried about the economy and deflation. You can tell by all the recent speeches from Fed chiefs about the need for quantitative easing. They will do it soon. And they get the inflation they want, but it won't be modest. This policy will make things much worse. It confirms my belief that they don't know what they are doing. This article explains why.

A couple trillion here, a couple trillion there adds up to real money ...

The banks and institutions that now run this country are running absolutely wild and out of control.

They do not fear judges or law enforcement.

They do not fear any law.

They do not need permission to kick down your front door, steal what they want and throw everything else into the streets.

What stops them from YOU being their next "mistake"?

With gold and silver bulls, since the beginning of this new PM bull in 2001, the four dreaded words that every gold/silver bull has been reluctant to say because it has served as the kiss of death every time gold/silver has been on the verge of a seemingly enormous breakout, is “This time is different.” Yet this time it IS different and here’s why.

As you may be aware, recent intelligence reports have resulted in a heightened threat alert for financial services terrorism. All citizens have been duly warned to maintain an appropriate state of vigilant awareness and to adopt appropriate financial counter measures.
How does one identify a financial services terrorist and what counter measures should be adopted?

This daily report is designed to help traders find opportunities to trade against this group. The premise is very simple we are looking for 66% of retail traders to be trading either long or short a currency pair, we then look for opportunities to fade (trade against) this group. For example if 72.99% of traders are long the USD/CHF we look for opportunities to short that pair.